Final answer:
False. More than one variable can be used to segment a market.
Step-by-step explanation:
False. More than one variable can be used to segment a market. Market segmentation is the process of dividing a market into distinct groups of buyers with similar characteristics, needs, or behaviors. Variables commonly used for market segmentation include geographic (location), demographic (age, gender, income), psychographic (lifestyle, values), and behavioral (usage, loyalty).
For example, a company selling running shoes might segment its market based on geographic location (urban vs. rural), demographic factors (age and gender), psychographic factors (active lifestyle, health-conscious), and behavioral factors (frequency of running, brand loyalty).
By considering multiple variables, a company can better identify and target specific customer segments and tailor its marketing strategies and messages to meet their unique needs and preferences.